REGISTERED NUMBER: 10191300 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 4 APRIL 2025

FOR

MICHAELHOUSE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I G Jolley

REGISTERED OFFICE:

5 Howson Avenue

Holt

North Norfolk

NR25 6FS

BUSINESS ADDRESS:

5 Regency Square

Cambridge

Cambridgeshire

CB1 3WL

REGISTERED NUMBER:

10191300 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

43,987

-

Investment property

6

1,485,000

1,501,612

1,528,987

1,501,612

CURRENT ASSETS

Debtors

7

66,571

40,835

Cash and cash equivalents

29,601

97,433

96,172

138,268

CREDITORS

Amounts falling due within one year

8

(35,627

)

(9,664

)

NET CURRENT ASSETS

60,545

128,604

TOTAL ASSETS LESS CURRENT LIABILITIES

1,589,532

1,630,216

CREDITORS

Amounts falling due after more than one year

9

(461,674

)

(461,810

)

PROVISIONS FOR LIABILITIES

11

(8,225

)

(12,378

)

NET ASSETS

1,119,633

1,156,028

CAPITAL AND RESERVES

Called up share capital

12

1,251,839

1,251,839

Retained earnings

(132,206

)

(95,811

)

SHAREHOLDERS' FUNDS

1,119,633

1,156,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 4 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 4 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

I G Jolley - Director

1.	STATUTORY INFORMATION

Michaelhouse Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The valuations of investment properties have been identified as a source of estimation uncertainty. The fair values as at the balance sheet date have been undertaken by the directors having considered property values in the local areas of equivalent properties.

Turnover

Turnover represents rental income received or receivable form the Company's portfolio of investment properties. The company is not VAT registered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Computer equipment - 33.33% on cost

Motor Vehicle - 20% on reducing balance

Investment property

Investment property is shown at its fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 5 April 2024

1,160

Additions

51,750

At 4 April 2025

52,910

DEPRECIATION

At 5 April 2024

1,160

Charge for year

7,763

At 4 April 2025

8,923

NET BOOK VALUE

At 4 April 2025

43,987

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

51,750

At 4 April 2025

51,750

DEPRECIATION

Charge for year

7,763

At 4 April 2025

7,763

NET BOOK VALUE

At 4 April 2025

43,987

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 5 April 2024

1,501,612

Revaluations

(16,612

)

At 4 April 2025

1,485,000

NET BOOK VALUE

At 4 April 2025

1,485,000

At 4 April 2024

1,501,612

Fair value at 4 April 2025 is represented by:

£

Valuation in 2022

11,001

Valuation in 2024

50,890

Valuation in 2025

(16,612

)

Cost

1,439,721

1,485,000

If investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

1,439,721

1,439,721

Investment properties were valued on an open market basis on 31 March 2024 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

66,571

40,835

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

20,125

-

Taxation and social security

3,240

-

Other creditors

12,262

9,664

35,627

9,664

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

461,674

461,810

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due more than 5 yrs

461,674

461,810

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

461,674

461,810

The loan is secured by way of a charge over the property to which it relates.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

8,225

12,378

Deferred

tax

£

Balance at 5 April 2024

12,378

Provided during year

(4,153

)

Balance at 4 April 2025

8,225

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

3

Ordinary A

£1

3

3

1,251,836

Ordinary B

£1

1,251,836

1,251,836

1,251,839

1,251,839

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 4 April 2025 and 4 April 2024:

2025

2024

£

£

I G Jolley

Balance outstanding at start of year

40,832

-

Amounts advanced

56,701

40,832

Amounts repaid

(84,178

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,355

40,832

14.	RELATED PARTY DISCLOSURES

At the balance sheet date, the directors owed the company £13,355 (2024 £40,832). The amount included interest charged of £68 (2024 £615 ), is repayable on demand and included within debtors due in less than one year.